ITM Power (LON:ITM) Earns “Buy” Rating from Berenberg Bank

ITM Power (LON:ITM)‘s stock had its “buy” rating reiterated by analysts at Berenberg Bank in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a GBX 100 price objective on the stock. Berenberg Bank’s price objective indicates a potential upside of 58.73% from the company’s current price.

Several other brokerages have also issued reports on ITM. Jefferies Financial Group boosted their price objective on ITM Power from GBX 60 to GBX 115 and gave the company a “buy” rating in a research report on Wednesday, October 1st. UBS Group reissued a “neutral” rating and set a GBX 60 price objective on shares of ITM Power in a research report on Friday, January 16th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 91.67.

ITM Power Trading Down 6.0%

LON ITM traded down GBX 4 during trading on Thursday, reaching GBX 63. 4,908,897 shares of the stock traded hands, compared to its average volume of 2,099,788. ITM Power has a fifty-two week low of GBX 25.08 and a fifty-two week high of GBX 98.45. The company has a quick ratio of 7.56, a current ratio of 4.17 and a debt-to-equity ratio of 4.73. The firm has a market cap of £388.19 million, a price-to-earnings ratio of -8.51 and a beta of 2.03. The stock’s 50-day moving average price is GBX 66.62 and its 200 day moving average price is GBX 70.49.

ITM Power (LON:ITM) last released its quarterly earnings data on Thursday, January 29th. The company reported GBX (2.30) EPS for the quarter. ITM Power had a negative net margin of 164.90% and a negative return on equity of 9.97%. Analysts predict that ITM Power will post -8.9214682 EPS for the current year.

Insider Activity

In related news, insider Simon Bourne bought 466 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average price of GBX 64 per share, with a total value of £298.24. Also, insider Dennis Schulz bought 466 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were bought at an average price of GBX 64 per share, for a total transaction of £298.24. Insiders have acquired a total of 1,792 shares of company stock worth $119,656 over the last three months. Insiders own 8.73% of the company’s stock.

ITM Power Company Profile

ITM Power was founded in 2000, and ITM Power PLC was admitted to the London Stock Exchange’s AIM market in 2004.

Headquartered in Sheffield, England, ITM Power designs and manufactures electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.